Q. Audit of balance sheet as on Valuation date under Income Tax Rule 11U

Question

Sir, as per Income Tax rule 11U, for the purpose of share transfer case, share valuation as per NAV method, the balance sheet needs to be the audited balance sheet as on the valuation date. By valuation date we understand the date of transfer of shares. So in case the transfer happens to be on 10th April does the company needs to get the balance sheet audited as on 10th April again by the company's Statutory auditor when it has already  the Balance sheet audited for the year ended 31st March just preceding 10th April.